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News

    By
  • Business Observer Staff
  • March 2, 2007
Commercial RE Briefs

Carolina financier buys Tampa, Cape Coral, Plantation apartmentInvestors buy Paddle Creek CenterCape Coral buyer plans Littleton Road developmentSouthwest Capital Bank buys CreeksideHanover, Metlife buy land for apartmentsDeBartolo buys new headquarters, moving to Kennedy BoulevardGold Coast/Coke distribution facility soldOntario investor buys North Port landFifth Third plans new University bank center

  • Charlotte–Lee–Collier
    By
  • Business Observer Staff
  • February 23, 2007
Coffee Talk

Six weeks into an ambitious - and expensive - advertising campaign designed to get fence-sitters to plunk over down payments and actually buy homes, the Sarasota Association of Realtors is seeing some positive results. Or are last three months of statistical increases in sales and offers, not to mention the reduction in inventory, just a cyclical fact in a market that eventually would bounce back anyway?What a year for Network Liquidators. Revenue grew 80%. The company opened a London office. The chief financial officer left. Another executive was promoted. The company acquired another and it obtained $12.86 million in capital.And to top it all, the company, founded in 2001, is moving for the fifth time in five years.In a deal that exudes good timing, Michigan-based Burton-Katzman Development Co. bought Sarasota Commercial Management Inc., a property management and real estate firm with about 25 properties under leases totaling 500,000 square feet. Neither side disclosed the sale price for the deal, announced Feb. 15. At 24, Ryan Sampson, who works with land broker Bill Eshenbaugh, known as Tampa's Dirt Dog, might just be the youngest person ever to become an Accredited Land Consultant.Then again, he might not be.Politicians, lobbyists and parents of Florida State University college students can cheer new nonstop air service to Tallahassee from Naples.

  • News
    By
  • Business Observer Staff
  • February 23, 2007
Commercial RE Briefs

Baycorp plans office, retail development on U.S. 60Publix Super Market under development for RuskinRam, Myrtlewood buy Madeira CenterStreetside developers buy Dean Dairy, Eiland propertyDunkin Donut franchiser buys propertyForum at Fort Myers gives city land for parkLock Up Self Storage buys Sarasota's Waterworks buildingSunVest Communities, Cay Clubs buy Colonial GrandeOrion Bank assumes former G&T land in eastern SarasotaBurton-Katzman buy Sarasota Commercial Management

  • Tampa Bay-Lakeland
    By
  • Business Observer Staff
  • February 16, 2007
Commercial RE Briefs

Naples' Hovland Real Estate planning Seville SquareBenderson Development sells 133 acresTwo Investment groups buy Southwest Florida parcelsChicago real estate firm buys Centro YborFirst Industrial Realty Trust plans Bright House centerLake Worth investor buys Carrollwood OaksSarasota developer buys Sarasota Grand landCity buys land for police stationFP&L buys Palmetto land for electrical substation

  • Charlotte–Lee–Collier
    By
  • Business Observer Staff
  • February 16, 2007
Coffee Talk

A recent statewide survey from the National Federation of Independent Business reads as if it's coming out of Taxachusetts, not the Sunshine State. Almost nine out of every 10 business owners that responded to the survey said their commercial property taxes have increased over the last year. Bradenton is losing a company headquarters, as breakfast and lunch franchise operation Peach's is moving to a Columbus, Ohio suburb. As promised, Shutts & Bowen continues to add top-ranked litigators to its first Gulf Coast office, which opened in Tampa last March. The Review is seeking the best and brightest Gulf Coast entrepreneurs for the newspaper's 10th annual Entrepreneur Award. Charlie Kleman's surprise resignation as chief financial officer of Fort Myers-based women's retailer Chico's FAS has some investors scratching their heads as to who could possibly replace him.Florida is projected to become the third most populous state between 2015 and 2020, as the state hits the 21.8-million mark and passes New York to come in behind California and Texas, even though the state's annual growth rate has slowed to about 2%, according to economists.Bonita Springs-based homebuilder WCI Communities has hired Goldman Sachs to evaluate the possible sale of the company.

  • News
    By
  • Business Observer Staff
  • February 9, 2007
Coffee Talk

Private Capital Management, the Naples-based money management firm that pushed newspaper chain Knight Ridder to sell itself last year, has reduced its stake in newspaper stocks.As a group, the super rich are optimistic about 2007, for both their own financial well-being and that of the national economy.The Chicago-based investment firm's study is relevant for all investors, says John Skjervem, Northern Trust's chief investment officer for its Personal Financial Services division, adding that the wealthy's spending and investment habits usually trickle down. As corporate raiders such as Carl Icahn push for changes at WCI Communities, the board of directors of the Bonita Springs-based homebuilder adopted a poison pill provision to ward off unwanted takeovers.Any investor who acquires 15% or more of the company without the approval of WCI's board will automatically have their shares diluted. Icahn controls 14.57% of WCI's stock, according to the most recent securities filing.The Review is seeking the best and brightest Gulf Coast entrepreneurs for the newspaper's 10th annual Entrepreneur Award. By most major accounts, Florida continues to be a national leader in population increase. It was second to Texas in the number of new residents in 2006, according to the U.S. Census Bureau, and it's the fourth largest state in the country, with 18.1 million residents. And there's the oft-cited number of 1,000 people moving to Florida a day.

  • News
    By
  • Business Observer Staff
  • February 9, 2007
Commercial RE Briefs

Morgan Stanley buys Murdock CarrouselGeorge F. Young Inc. buys officeBal Bay Mortgage buys Nokomis SunTrustCoral Gables investors buy Palm Vista ApartmentsHoteliers buy Bridge Water InnDoug Fox Plumbing moves to Zip Drive Boston firm buys President's Plaza IIPremier One bucks trend, converts Whispering PalmsCay Clubs Resorts buys St. Joe Harbourside

  • Charlotte–Lee–Collier
    By
  • Business Observer Staff
  • February 2, 2007
Coffee Talk

Fort Myers Ramada may be torn down soonWant only the best for your beloved sportster? Well, if it's good enough for Britain's royal family, maybe it's good enough for the rich and famous on Florida's Gulf Coast.Andy Smythe, who became certified as an Auto Glym professional in England, thinks so.That's how he markets his two-year-old auto detailing business, Splash and Dashing. Now Smythe's mobile services aren't for the financialy faint-hearted.Coffee Talk is regularly amused by what counts as a value these days when it comes to higher education. Proof is in Kiplinger's Personal Finance magazine's 2007 Best Values in Public College's list: The top 10 schools - two of which are in Florida - will all run more than $100,000 for four years.December existing-home sales continue declineBJ's Restaurant & Brewery CFO Gregory S. Levin says the California-based casual dining chain chose the Tampa Bay area for its first Florida location because it's such a great market for restaurants.University of Tampa business professor Joe McCann says family businesses are the backbone of the U.S. economy, contributing 65% of the nation's GDP annually.That's why it's only fitting for the college to recognize outstanding Florida family businesses each year.

  • News
    By
  • Business Observer Staff
  • February 2, 2007
Commercial RE Briefs

Joyland night club finds new homeSarasota attorney moves S.R. 64 parcelLion's Gate Development plans hotel project next yearInland Retail kicks off mixed-use projectPrudential Real Estate Investors buys Grand ReserveScherer Development builds strip centerPBO Development buys Cape Coral officeAmerican Financial Realty buys Wachovia Bank buildingInvestment group planning Six Mile Cypress offices

  • Manatee-Sarasota
    By
  • Business Observer Staff
  • January 26, 2007
Coffee Talk

Health Management Associates sent a clear message to the private-equity vultures circling the Naples-based hospital chain: Back off. Steven Kossoff, principal of Clearwater's Meridian Development Group paid $7.3 million for Lakeland Interstate Business Park in September 2005. It was his firm's first investment in Florida after relocating to the state from Buffalo, N.Y.t's no surprise that companies in Florida lack easy access to venture capital. Still, it's disconcerting to realize last year's VC funding in the Sunshine State dropped to its lowest level in more than a decade.The strategy of knowing your customers, making sound asset and loan decisions and going after condo association deposits might not be exciting, but in the case of Sarasota-based People's Community Bancshares, it sure has been profitable: The bank is regularly one of the top performing community banks in the Sarasota market.It wasn't a good week to be either an executive or a shareholder - or both - with Bradenton-based Coast Bank.

  • News
    By
  • Business Observer Staff
  • January 26, 2007
Commercial RE Briefs

Pennsylvania REIT buys Seminole MallSembler creating new Park Street shopping centerTampa Community Health Center buys Rooms To GoSkipper Marina redeveloping Cape Coral marinaSamir Cabrera-led group plans three-story buildingTwo real estate agents buy Bruner Lane warehouseChicago investors buy mobile home parkKolter delays Grande Sarasotan, cites condo softnessProspectsPLUS! buys Lakewood Ranch headquarters

  • Tampa Bay-Lakeland
    By
  • Business Observer Staff
  • January 19, 2007
Coffee Talk

Corporate raider Carl boosts WCI stake, demands talks with companyThe Florida Venture Forum will set a milestone next month when 26 companies make presentations at the 2007 Venture Capital Conference in Boca Raton.In Fortune's 100 Best Companies to Work For ranking, published in the magazine's Jan. 22 issue, the Sunshine state has a measly four companies, with the closest one to the Gulf Coast being Lakeland-based Publix - number 57. The honeymoon can't last forever. Things have to get back to normal eventually. Right?And that's where the national housing market is headed now from its all-time peak in 2005, says LaSalle Bank Corp. economist Carl R. Tannenbaum. Normal.The Southwest Florida chapter of the Urban Land Institute is seeing green.The group, composed of planners, developers, engineers and others associated with development, plans to tackle the issue of green building standards this year.

  • News
    By
  • Business Observer Staff
  • January 19, 2007
Commercial RE Briefs

Ruben Holland, Gettel buy S.R. 64 landLofinos buy Siesta's 5011 Ocean Blvd.Roberts Millwood Inc. buys Norwood Products and millBirnbach buys control in Collingwood ConstructionEastgroup Properties expands Laredo facilityFort Myers spa owners buy second buildingNaples' Walkerbilt LLC buys nine-tenant office buildingTotal Land Development preps Dowling Mill officesBrookdale Senior Living buys Grand Court TampaExtra Space Storage buys, re-brands Tampa facilityOffice development uptick doesn't increase vacancy rate

  • Manatee-Sarasota
    By
  • Business Observer Staff
  • January 12, 2007
Coffee Talk

When John Deanthony agreed Jan. 8 to sell his Sarasota-based multimillion-dollar air-conditioning business, he says it wasn't the slumping Gulf Coast residential construction market that got him. Instead, it was something even more out of his control: age.The nation's economy will slow this year, but there won't be a recession, says David Jones, the chairman of Fort Myers-based Investors' Security Trust. Epicurean Life, a Sarasota-based conglomerate of upscale restaurants, grocery stores and gift shops put up for sale three months ago, is attracting a unique lot of potential buyers, from local to international players - many, apparently with the resources to consider the $31 million price tag. It's rare when investment bank analysts recommend investors sell a stock, especially one that's rewarded shareholders so well in recent years.The shares of Bonita Springs-based homebuilder WCI Communities rose nearly 3% on Jan. 9 after Hotchkis and Wiley Capital Management announced they had amassed nearly 16% of the company's stock.Despite the significant slowing of new-home sales, investors are paying a slight premium to buy bonds of the Ave Maria residential development project in eastern Collier County, recent data shows.The rush is on to file for building-permit applications in Lee County before impact fees rise substantially in February.Not such a bad year for Tampa home sales

  • News
    By
  • Business Observer Staff
  • January 12, 2007
Commercial RE Briefs

Thomas Ranch owner buys Venice lotInvestor George Perreault buys Pen West buildingsPalmetto Bay investor buys Phoenix Professional CenterFlorida Gulf Bank develops Coconut Point branchPulte home-builders buys land for Ave MariaPrudential Insurance buys two Naples shopping centersWishnatzki Farms buys 100-acre Plant City farmNovare Group, intowngroup kick off Element constructionOdessa developer planning Suncoast Meadows center

  • Manatee-Sarasota
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